“VRANCART informs shareholders and investors that the subsidiary VRANCART RECYCLING (with registered office in Adjud, 17th Ecaterina Teodoroiu Street, Vrancea County, J39/570/2020, CUI RO42976240), a company 100% owned by VRANCART, continues the successful implementation of the Project “Greenfield investment for the establishment of a recycling and waste recovery unit in Adjud, Vrancea County”, carried out in accordance with the provisions of GD 807/2014 for the establishment of state aid schemes with the objective of stimulating investments with a major impact on the economy, with subsequent amendments and completions”, the report reads.
Vrancart ended the first quarter of 2024 with net loss of RON5 million, from RON3.5 million profit in the same period of 2023. Its revenue dropped 21.5% on the year to RON92.7 million in Jan-March 2024, and expenses reached RON97.4 million, compared to RON114 million on March 31, 2023. The operating result was loss of RON2.6 million.
Lion Capital (LION) is the company’s largest shareholder, with 76% of the share capital, being followed by Paval Holding (17.3%), the investment vehicle of Paval brothers, the founders of do-it-yourself retailer Dedeman.